“PASUBLAT PWESTO” AGREEMENT

THIS “PASUBLAT PWESTO” AGREEMENT entered and executed this day of NOVEMBER 9,
2020, at La Trinidad, Benguet, Philippines 2601.

REX A. BAYANGAN, of legal age, Filipino, single and with residence and postal address at AD-
102 A Upper Windy Hill, Buyagan, La Trinidad, Benguet 2601.

-and-

MARNELLY P. VICENTE, of legal age, Filipino, single and with residence and postal address at
MA 026 Puguis, La Trinidad, Benguet 2601.

WHEREAS, Mr. REX A. BAYANGAN agrees to “PASUBLAT PWESTO” his Business with a
Business Address located in FC 431, Central, Balili, La Trinidad, Benguet 2601 amounting to
the sum of TWO HUNDRED SIXTY THOUSAND PESOS (PHP 260,000.00) and MARNELLY P.
VICENTE agrees to the terms and subject to the conditions hereinafter appearing.

NOW THIS AGREEMENT WITNESSETH as follows: -

1. PASUBLAT PWESTO

In consideration to MARNELLY P. VICENTE undertaking to perform the term of the

Agreement, REX A. BAYANGAN hereby agrees to “PASUBLAT PWESTO” his Business with a
Business Address located in FC 431, Central, Balili, La Trinidad, Benguet 2601 amounting to
the sum of TWO HUNDRED SIXTY THOUSAND PESOS (PHP 260,000.00);

2. PAYMENT

MARNELLY P. VICENTE shall pay to REX A. BAYANGAN the amount of TWO HUNDRED
SIXTY THOUSAND PESOS (PHP 260,000.00) with a terms and conditions as follows;

(a) As agreed, MARNELLY P. VICENTE will make an advance payment of One Hundred
fifty thousand pesos (Php 150,000.00) as initial payment.

(b) The Remaining balance of One hundred ten thousand pesos (Php 110,000.00) shall
be paid with the following details: 1st half Payment on or before December 31, 2020:
Fifty-Five Thousand pesos (Php55,000.00) and 2nd half will be paid on or before January
31, 2021: Fifty-Five Thousand pesos (Php55,000.00) through a postdated check.

3. WAIVER

(a) No failure or delay on the part of REX A. BAYANGAN in exercising nor ansy omission to
exercise any right, power, privilege or remedy accruing to REX A. BAYANGAN hereunder upon
any default on the part of MARNELLY P. VICENTE nor the fact that REX A. BAYANGAN may
have accepted any moneys from MARNELLY P. VICENTE or any other person after such
default shall impair any such right, power, privilege or remedy or be construed as a waiver
thereof or any acquiescence to such default, nor shall any action by REX A. BAYANGAN in
respect of any default or any acquiescence to any such default, affect or impair any right,
power, privilege or remedy of REX A. BAYANGAN in respect of any other or subsequent
default, breach or omission.

4. AMENDMENTS AND SEVERABILITY

(a) No provisions of this Agreement may be voided, amended, waived, discharged,

absolved or terminated orally nor may any default, breach or omission of any
provisions of this Agreement be waived or condoned orally.

(b) If at any time during the currency of this Agreement any provision condition term
stipulation covenant or undertaking of this instrument is or becomes illegal, void,
invalid, prohibited or unenforceable in any respect the same shall be ineffective to the
extent of such illegality, voidness, invalidity, prohibition or enforceability without
invalidating in any manner whatsoever the remaining provisions hereof or thereof.
5. TIME

Time wherever mentioned in this Agreement shall be of the essence of this Contract.

6. APPLICABLE LAWS

This Agreement shall be governed by and construed in all respects in accordance with the laws
of the Republic of the Philippines but in enforcing this Agreement, REX A. BAYANGAN shall be
at liberty to initiate and take actions or proceedings or otherwise against MARNELLY P.
VICENTE in the Republic of the Philippines and/or elsewhere as REX A. BAYANGAN may
deem fit and the parties hereto hereby agree that where any actions or proceedings are initiated
and taken in the Republic of the Philippines MARNELLY P. VICENTE shall submit to the non-
exclusive jurisdiction of the Courts of the Republic of the Philippines in all matters connected
with the obligations and liabilities of the parties hereto under or arising out of this Agreement
and the service of any writ of summons or any legal process in respect of any such action or
proceedings may be effected on MARNELLY P. VICENTE by forwarding a copy of the writ of
summons, statement of claim or other legal process by prepaid registered post to their
respective addresses as indicated herein or in such manner or mode as a court of competent
jurisdiction may order or direct.

7. INDEMNITY

MARNELLY P. VICENTE shall at all times hereafter save harmless and keep REX A.
BAYANGAN indemnified against any and all expenses costs actions proceedings claims
demands penalties damages and liabilities which may be brought or made against or incurred
by REX A. BAYANGAN by reason or on account of non-observance of all or any of the
stipulations on the part of MARNELLY P. VICENTE contained in this Agreement or otherwise
howsoever owing out of or in connection with this Agreement.

8. NOTICE

Any notice under this Agreement shall be in writing in the Ilokano-English Language and shall
be deemed to be sufficiently served if the same is sent or addressed to any party by registered
post to the address hereinbefore mentioned or to the last known address and shall be deemed
to have been received within seven (7) days following the date it was posted. If the notice is
transmitted by way of facsimile transmission, it shall be deemed to have been received on the
day immediately following the date of transmission subject to the receipt
of a confirmed transmission report by the sender.

9. HEADINGS

The heading of each of the provisions herein contained are inserted merely for convenience of
reference and shall be ignored in the interpretation and construction of any of the provisions
herein contained.

10. SUCCESSORS BOUND

This Agreement shall be binding upon successors-in-title of MARNELLY P. VICENTE and on

the assigns and successors-in-title of REX A. BAYANGAN and persons deriving there under.
IN TESTIMONY HEREOF, the parties hereto affixed their signatures at the place and
on the date above written.

REX A. BAYANGAN MARNELLY P. VICENTE

SIGNED IN THE PRESENCE OF:

JODIE ANN T. KAPAWEN __________________________

REPUBLIC OF THE PHILIPPINES)

)S.S.

At _____________________, Philippines, on the _____ day of __________, 2019

personally appeared:

Name Place Issued

REX A. BAYANGAN TIN/430495454 BAGUIO CITY

MARNELLY P. VICENTE UMID/CRN-0111-2556897-6 BAGUIO CITY

Known to me to be the same persons who executed the forgoing instrument of

“PASUBLAT PWESTO” AGREEMENT and acknowledge to me that the same is their
free and voluntarily act and agreement as well as the principal represented.

WITNESS MY HAND AND SEAL on the day, year and place first above written.

___________________________
NOTARY PUBLIC

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